Fidelity Digital Assets, a cryptocurrency-focused arm of of Fidelity Investments, plans to increase staff by ~70% as demand for cryptocurrency services from institutionals remains strong, Bloomberg reports. The Boston-based asset manager wants to hire approximately 100 workers in Dublin, Boston and Salt Lake City.
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Fidelity Digital Assets President, Tom Jessop, says the employees will help the arm to develop products and go beyond bitcoin (EXANTE: Bitcoin).
"[Last year] was a real breakthrough year for the space, given the interest in bitcoin that accelerated when the pandemic started," Jessop added.
Particularly, Fidelity wants to expand services in the Ethereum ecosystem as it sees more interest in the cryptocurrency. The cryptocurrency subsidiary also plans to offer 24/7 trading desk.
The move comes after Fidelity raised $102 million for its bitcoin fund since its launch in August 2020. According to a report released by the US Securities and Exchange Commission (SEC), 83 investors joined the fund since its launch.
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